Lake Oswego gets clean bill of health for finances

The city of Lake Oswego received its annual independent auditor's report in early November, giving it a clean bill of health for its financial reporting.

Talbot, Korvola and Warwick, LLP, the city's independent auditors, provided the report for the city's financial statements, including those of the Lake Oswego Redevelopment Agency, for the fiscal year ended June 30.

'We are pleased with the report because it means that our financials are accurate, that we use acceptable accounting principles and that the city is complying with the law, which is what our citizens expect,' said Mayor Judie Hammerstad.

The report also tested the city's internal controls over financial reporting and found no disagreements with management over the application of accounting principles, nor any significant or unusual transactions, according to city officials.